Warren Buffett’s Son Had No Idea His Dad Was a Billionaire Until His 20s

Warren Buffett’s Son Didn’t Know He Was a Billionaire

Warren Buffett is one of the most famous investors in the world, often called the “Oracle of Omaha.” He once became the world’s richest man in 2008, surpassing Bill Gates with a net worth of $62 billion. Today, he remains a billionaire worth around $145 billion.

Yet, surprisingly, his own son, Peter Buffett, didn’t realize just how wealthy his father was until he was in his 20s. Peter’s friends were just as shocked when they found out.

Peter Buffett’s Surprise

Peter, the youngest of Warren Buffett’s three children with his first wife, Susan Alice Buffett, only learned of his father’s billionaire status after seeing Warren’s name on Forbes’ list of the richest Americans.

“I’m not kidding. It was when I was in my 20s that my mom and I talked at some point, because there he was, on this list,” Peter said. “And we laughed about it, because we said, ‘Well, isn’t it funny? You know, we know who we are, but everybody’s treating us differently now.’”

Even after learning about his father’s wealth, Peter said it didn’t change his perspective or the way he lived.

Growing Up Away From Wealth

Peter and his siblings grew up without a lifestyle defined by wealth. They attended school and spent time with friends who didn’t know their family was wealthy either.

“It was a fascinating switch, although not a huge one because we didn’t live in that world or a cultural framework where there was a lot of wealth being shown,” Peter said. “Our friends were as surprised as I was.”

Warren Buffett emphasized that his children’s personalities and friendships were already shaped before they learned about his fortune.

“The kids were formed by that time, and they knew who their friends were, and their friends were their friends because they liked ’em, and not because they were the rich kid on the block or anything of the sort,” Warren Buffett said.

Peter Buffett’s Career and Philanthropy

Peter Buffett is an accomplished musician, composer, author, and philanthropist. He has won a regional Emmy Award, become a New York Times best-selling author, and served as co-chair of the NoVo Foundation. Despite his father’s wealth, Peter built his own career and identity independently.

Warren Buffett’s Frugal Lifestyle

Despite his billions, Warren Buffett is famously frugal. He still lives in the same Nebraska home he bought for $31,500 in 1958, drives an old car, and enjoys eating at McDonald’s. Even his license plate once read “THRIFTY.”

Buffett has always emphasized that success isn’t about money. In his shareholder letters, he has written:

“Greatness does not come about through accumulating great amounts of money, great amounts of publicity or great power in government.”

Wealth With a Purpose

Rather than flaunting his fortune, Warren Buffett focuses on philanthropy. He plans to pass most of his wealth to his children, who will use it for charitable causes. He encourages helping others in small and large ways, stating:

“When you help someone in any of thousands of ways, you help the world. Kindness is costless but also priceless…Keep in mind that the cleaning lady is as much a human being as the Chairman.”

The Takeaway

Peter Buffett’s story shows that wealth doesn’t define relationships or character. Even in one of the richest families in the world, the focus on humility, personal growth, and helping others shaped how the children lived and viewed the world.

Warren Buffett’s life is a reminder that fortune alone doesn’t make someone great—how you use it and how you treat people does.